Brinker Q1 FY2023: operating loss of $19.8M vs prior-year profit; commodity inflation hits margins

BRINKER INTERNATIONAL, INC

2023-Q1 EPS reported -$0.69 revenue$955,500,000

GAAP net loss per diluted share $0.69 vs prior-year income of $0.28; adjusted loss $0.57.
Company sales rose 9.3% to $946.1M, but operating margin fell to negative 2.1% from positive 2.9%.
Restaurant operating margin dropped to 6.0% from 11.0%, driven by ~24% commodity cost inflation.
Adjusted EBITDA plunged to $27.1M from $69.4M; comparable restaurant sales up 5.3% (Chili's +3.8%, Maggiano's +18.2%).
No guidance provided; management cited chicken and beef pricing as primary cause of operating loss.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BRINKER INTERNATIONAL, INC reported first quarter of fiscal 2023 ended September 28, 2022 results: revenue $946.1 million, EPS $0.69.

Period: first quarter of fiscal 2023 ended September 28, 2022
Revenue: $946.1 million
EPS: $0.69
Result: reported results

Exact text from the filing

Brinker International reported Company sales (1) of $946.1 million in the first quarter of fiscal 2023 as compared to $865.6 million in the first quarter of fiscal 2022.

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Source: SEC EDGAR

accession 0000703351-22-000046

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